Federal Reserve Appoints First Bank CEO To Exclusive Advisory Committee

On Jan 9, 2017

First Bank announced today the appointment of Patrick L. Ryan, president and CEO, to the Federal Reserve Bank of Philadelphia’s Community Depository Institutions Advisory Council (CDIAC).

The 12-member CDIAC comprises representatives from commercial banks, thrift institutions and credit unions. The council convenes twice a year with officials from the Federal Reserve Bank of Philadelphia to share insights about economic and business trends facing community depository institutions in their local markets. After each local meeting, a representative from the Philadelphia council joins counterparts from other Federal Reserve Banks at a meeting hosted by the Federal Reserve Board of Governors in Washington, D.C.

“I am honored that the Federal Reserve Bank of Philadelphia recognizes First Bank’s economic impact to the region,” Ryan said. “Our commitment has always been to support the local economy, while developing relationship-based banking that puts customers first. We follow a simple, old-fashioned recipe of ethics, integrity and customer service— and it’s a recipe that works, since we recently surpassed $1 billion in total assets.”

First Bank offers traditional deposit and loan banking services for individuals, families and commercial businesses. The bank has nine branches throughout New Jersey and one in Trevose, Pennsylvania.

Ryan began his 20-year banking career in 1997 as an investment banking analyst at Goldman Sachs, working in New York and London. He then worked in corporate development at Medsite, and was a consultant at the management consulting firm Bain and Company. He managed the Corporate Development department at Yardville National Bank, before leading a recapitalization of First Bank in 2008.

He is involved with several nonprofit organizations, including the Hamilton Partnership, the Mercer County 200 Club, the Friendly Sons and Daughters of St. Patrick, Crossroads of the American Revolution, the Community Bankers Association, the NJ Bankers Association and the Ancient Order of Hibernians. He also serves on the board of trustees for the Trenton Area YMCA.

Ryan has a bachelor’s degree in government from Hamilton College and an M.B.A. from Dartmouth University’s Tuck School of Business.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy as well as supervise financial institutions and bank holding companies. It also provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey and Delaware.

Ryan will serve a three-year term beginning in March, 2017.

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